In today’s time and age a lot of sales managers struggle with maintaining their top line growth performance as they neglect their vital duties when it comes to managing the performance of their sales team. In such cases, Sales Performance Management (SPM) plays a very important role as it embraces tactically important disciplines to assist sales organizations united with corporate objectives.
The role of sales management is to keep a tab on sales activity and measure and monitor performance to train sales people to success. Tracking activity can be done very effortlessly when your company has a positive CRM implementation. Monitoring and measuring performance is not just about tracking activity but in a actual sense, it is getting behind the activity to comprehend what is is working and what is not working with each sales person’s terrain.
Mark Stiffler, the President and CEO of Optymyze has great understanding about sales performance management and in fact has helped clients to build a sales performance management strategy. According to Stiffler, before taking on Sales Performance Management (SPM) as a discipline and presenting these tools to aid support and strengthen good practice, it is important to consider certain important things such as:
- You should try to understand your own management style as understanding yourself will help to make you a better manager by providing you the essential insights to strengthen your fortes and minimize your weaknesses.
- You should have a clear vision of where you want to go and pass on it clearly. Also you should have a clear idea of what you want to achieve.
- You should not just set objectives but make sure that the objectives are measurable.
- Your activities should reveal your goals. For instance if your purpose is to upsurge sales among companies, instead of concentrating on how many calls each staff member makes on a day, it might make more sense to focus on how many potential customers they have met over the course of a week.
In addition to all these, Stiffler says a perfect sales performance management system should consist of rewards and incentives; such as bonuses, financial incentives, commission, as well as recognition programs. Numerous companies just not think about the power of non-cash incentives when it comes to inspiring their sales team. Just like everybody else sales people come to work for both psychic as well as financial benefits. It is vital to recognize the non-cash component when it comes to acknowledgment. Thus, if your company is interested in speed up its sales and taking the performance of the sales team to the next level, think of building a formalized sales performance management system.
Apart from being associated with Optymyze, Mark is the founder of Synygy that is known to offer sales management services to product based companies. His present company Optymyze for Sales Performance Management has been placed in the Leaders Quadrant of the 2016 Gartner Magic Quadrant. Mark Stiffler is an MBA degree holder from the Sloan School of Management at the Massachusetts Institute of Technology (MIT). He has also completed his bachelor’s degree in Management Information Systems and Civil Engineering (Project Management) from Massachusetts Institute of Technology.